How to get funding?

We are writing a business plan to get funding from KfW and get great help! How to find a good advisor?

While well listening to feedback of our potential users, our concept evolved. I decided that it was a good moment to ask an expert for advice.

How to find an expert

1st: What do you need?

You have to think about what exactly you need. We needed:

  • A realistic second opinion and critical view on our project

  • Probably funding, but how much and where do we get it?

  • Business advice, because this is Jacques' and my first start up

2nd: Where do you find a trustworthy advisor?

I started looking at the internet. I informed myself a lot on websites like Gründerszene and für-Grü On start up websites there are sometimes these forms that you can fill out. They ask you what you need exactly: Financing? Help with founding your company? Help with a business plan? So, I filled it out and then there seemed to be an internet connection problem, because when I finished filling out the form and pushed on the "send" button, nothing changed. So I pushed some more times on the button. And what happened then is that there were many many many advisors writing emails and calling. Acually, with the first who called, I arranged right away a meeting within 5 minutes. And then the advisor flood started. So I read a little bit about how to choose a business advisor. Because it's not a protected title. After being more informed, I cancelled the meeting with the first one. I had looked him up and he was weirdly CEO of many small companies in different businesses. He showed a funny reaction to the cancellation: He told me basically that I was stupid and that I only cancel because I know nothing et cetera.. I think, it was a good choice to cancel.

I can't guarantee anything, but paying attention to the following 3 points might avoid some disappointments:

  • Forget advisors who call you 3 times in a row

  • Quick promises can only be fake

  • If the advisor doesn't try to understand very well what you are doing and for whom you are doing it, forget him/her

  • See if you find references

  • Look up your potential advisor, further than page 1 of google results

Our great advisor

Markus Hübner also contacted me via email after I filled out the online form of one of these start up websites.

We arranged a phone call where I explained every detail to him and he explained to me how we could proceed and that he would help us to write a business plan. We would do so to really figure out a realistic plan for the future but also ask for a soft loan, to finance everything we'd need to realize our goals.

Since we started, everything's going really well with him. I never would have learned so much so quickly about the start up business by myself.


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